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STATE-PRIVATE PARTNERSHIP AS NEW MODEL OF DEVELOPING INNOVATIVE AND VENTURE ACTIVITIES

Journal: University Economic Bulletin. Collection of scientific articles of scientists and post-graduate students (Vol.1, No. 21)

Publication Date:

Authors : ;

Page : 40-50

Keywords : innovative activity; venture activity; innovative economy; state?private partnership; venture funds; business angels; technological platforms; common technological initiatives; technological setup;

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Abstract

The article provides characteristic of innovative indicators and formulates tasks of innovative development of Belarus economy; analyzes and assesses the new approaches to the development of state?private partnership in innovation and venture activities, the development of technological platforms and common technological initiatives as instruments of developing new technological production; considers the possibility of their usage in the Republic of Belarus. Results of the research are the following: ? four main types of model for the development of venture activity which differ in role of state and forms of supporting venture activities may be determined; selection of model depends on the stage of innovative development of economy; ? realization of venture activities is possible only on condition of creating special organizational and economic mechanism and institutional environment favorable for the development of venture activities; ? system of different financial sources is required for financing venture activities depending on the stage of venture activities (business angels, venture funds, innovation and investment funds, institutional and strategic investors, etc.); ? increased risk being essential and internal property of venture activities requires the development of special methods and methodologies of assessment and selection of projects, formation of venture project portfolio, its management, control in critical situations, specific models of promotion what is impossible without the corresponding methodological support and highly?qualified specialists; ? venture firms are specific in development strategy and purposes of investors participating in financing. They are not interested in the sum of interests for the invested capital, but in the considerably increased value of company, for which they pretend. To realize this condition, (i.e., exit from the project) stock market shall be developed; ? basic condition for developing innovation and venture activities is formation of framework conditions activating innovative activities in the Republic of Belarus: reaching threshold values of such indicators as: science linkage of GDP, share of innovative and active enterprises in industry, share of highly technological export, etc.

Last modified: 2016-12-19 08:15:24